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California Housing Finance Agency; Housing, Single Family Whole Loan Jan 06
Standard & Poors, January 2006
The 'AA-' long-term rating assigned to the Southern California Home Finance Authority's (SCHFA) single-family mortgage revenue bonds, series 2006A, reflects credit factors associated with the California Housing Finance Agency's (CalHFA) consolidated home mortgage revenue bond (HMRB) program, including: The high credit quality and continued strength and performance of the single-family mortgage loans, High-quality investments, Adequacy of reserves and resiliency of consolidated cash flow projections, and CalHFA's pledge of its general obligation for credit and liquidity shortfalls within the resolution. The 'A-1+' short-term rating on SCHFA's series 2006A bonds is based on an SBPA from Dexia Credit Local ('A-1+'). SCHFA is issuing series 2006A under CalHFA's HMRB indenture to purchase interest-only single-family mortgages originated to low- and moderate-income state residents. The...
Companies mentioned in this report are: California Hsg Fin Agy,Southern California Home Fin Auth
Action: New Rating
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Research Type: Full Analysis
California Hsg Fin Agy,Southern California Home Fin Auth